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Hey Chizz, good post, all very gung-ho as befitting a marketing manager! The problem has been that people have been looking for a massive and immediate lift in the SP, similar to when EU approval was granted, because that's what most people on here have been predicting. Even you yourself have been guilty of ramping the FDA announcement, I know I have, hence the disappointment at the rather lackadaisical price rise. But as you say, solid foundations have been laid, and we can look forward to decent returns on our investments. Personally I have no experience in the business world, and very little in investing, I just happened to get lucky with my SIPP and retired at 59, so I think of myself as 'an investor'! So what I'm doing on AIM I've no idea, especially having lost a packet on IMM, but I live in hope of making a small packet here! Gotta get a big gravel driveway like The.Italian's!
Obviously everyone in here has varying degrees of experience in the business world & investments. Just voicing this as it winds me up a little when I see a lot of negativity behind the roll-out strategy, SP movement, why this, why that. share circulation reduction etc etc
Look, YES its been a long road, & trust me I've been in from the start & it has been frustrating at times, & very buoyant along the years. But lets put this into prospective! The product roll-out is moving in the right direction. Nobody unless they work within the organisation knows what's going on behind the scenes. I've worked on multi-million ££ campaigns & I can tell you its long days, lots of meetings & fine tuning. Finally RNS reports are coming out with all the news that's been dreamed of & for some its still not enough, that all they can find is negative views or comments to say. Summary, the product works, not for everyone, but that doesn't matter, people that suffer ED will try anything that promises what they wish to restore! IT WILL FIND ITS PLACE IN THE MARKET! with all the news that keeps coming! what's not to like here? setting up distribution channels, deals, all takes time. Marketing is building! I've had several friends that know my vested interest in this product message me to say "I've seen an ad is that the product you've invested in" these are friends near & in different countries, so its working , news is spreading. Its ALL good! IT will take time! but hey, its been a long road, but look at where the road is heading now! down the auto-barn to success! positivity people! products if they can be manufactured at suitable business profit! appeal to a wide audience, sustainable, will always find their place in the market. The road ahead for this product is huge! colossal. IMO for any investor its the most exciting time ahead, & I only see growth happening. What rate can never be predicted, but I think we all know with this type of product, it will gain pace quickly!
I am sure events and developments will throw up all kinds of potentials?
I wouldn't rule out a takeover. (Boots selling a generic version of Viagra now)
And another consideration could be a dual listing with Usa market?
All could be boom to Sp!
With FDA approval
Now that the gel is available OTC in the US, would it not make sense for FUM to look at making its share also available OTC in the US? This is a path just being explored by ATM (Andrada Mining, formerly Africa Tin Mining) that found itself sitting on masses of Lithium and is looking to realise value away from AIM.
We all know the "vagaries" of AIM - most on this board seem to have been surprised by yesterday's lack of appreciation of the great news. Could the board not think of other ways of realising value?
An Aim-listed drugs company has received US marketing approval for its erectile dysfunction treatment, sending shares sharply higher.
Futura Medical said the US Food and Drug Administration had authorised the sale of Eroxon gel over the counter. The firm said it could be marketed as the first topical treatment for the problem without the need for a prescription.
Shares in Futura Medical closed up 12.4 per cent at 48¼p, valuing the company at £124 million on the London Stock Exchange’s junior market.
The authorisation came after regulators asked for more information from the company, which submitted its application in October. Eroxon has previously received marketing approval in Europe and the Middle East and was launched in the UK in April through a distribution partner.
It is marketed as a clinically proven treatment that “helps you get an erection within ten minutes” compared with oral medications such as Viagra, which Futura said require a doctor’s prescription in America and “typically are required to be taken at least 30 minutes in advance”.
Futura Medical was founded in 2001 and is based in Guildford. Its chairman is John Clarke, 74, a former president of GSK’s consumer healthcare business.
James Barder, 63, Futura Medical’s chief executive, said US marketing approval was a “huge milestone” following the submission of 22 clinical studies and performance bench tests to the regulator. “The FDA set a very high standard in evaluating the effectiveness and safety,” he said, adding that the “approval is a major de-risking event for the company and we look forward to updating shareholders on our US commercialisation plans”.
Analysts at Liberum, which is Futura Medical’s nominated adviser, have said that Eroxon “has the potential to become a global name”.
Liberum said yesterday that the product could “take a significant market share” in America and increased its target price for the company from 121p to 142p, adding: “The next catalyst will be June’s capital markets day and Futura announcing a US market partner, hopefully before the end of 2023.”
Futura Medical said in its full-year results in April that its “cash runway” extends beyond the initial launches expected over the next year and that it had cash resources of £4 million.
Following the FDA authorisation, £4.4 million of warrants were subscribed for, extending the company’s cash visibility to 2025.
Futura Medical had made a net loss of £5.9 million in the year to the end of December, of which £4.1 million related to research and development.
I can't read this as no subscription but hopefully good coverage in a quality newspapaer.
Https://www.thetimes.co.uk/article/america-gives-erectile-gel-the-green-light-53bg5swj7
Share dilution is only approx 11 million x 10p really not 50p. As our company is worth £4million more with cash received.
Positives
Distribution deal concludes with no financial fwd pressures in background.
Pressure now on Distributors to get deal done. Quite happy. Profit takers gone soon. Manufacturing orders completed already for middle east. Expecting imminent launch there. All Good to me.
Looking at buying back into this as a LT holding now that US approval done. Has anyone by chance done any analysis on what the costs are compared to the retail price?
Interesting to see that Amazon UK report over 900 sold so far this week: That's £22.5k revenue, say £100k a month just presumably for UK. Wonder how many Boots have shifted. Also noticed it on Amazon Italy and appears to be available in pharmacies in Belgium.
I interpret todays news like this, and its basic.
The positives
The FDA has approved the offering in USA ..and all that entails in one of the biggest, wealthiest markets, plus FUM have received approx. £4 million in cash by diluting the shares base by approx. 11m shares..
The negative
To pay for the above good news investors will take an approx. 11m share dilution to the company's value .
A company with at approx. 300 m shares in circulation , there will be 11 m added! Which is about 3 % , of company which at todays share price is about a 1.5p, knocked of the value of a company that at present has not shown any revenues.
The real value the market is looking at is not in the FDA approval, or UK approval, or any one else's approval...but in what FUM do with this approval from now on?
Will they F*&ck it up, choose a bad distribution deal, will product flop, will bad promotion let the product down - these things can sometimes happen when a good product is managed badly.
So IMO , the real sp rise in FUM will only arise when the company can demonstrate, consistent, regular increases in
revenue.....because if FUM can demonstrate that they can continue to grow revenue, then they must have everything else covered. That old saying that "many a twixt between cup and lip", is true.
Same as you can only really judge a cake by eating it, you can only really ever judge a company is successful once they demonstrate increasing profits....so FUM need more time IMO, to demonstrated they can milk this opportunity, and attract more longer term investors. GL All.
Will never understand why this didn’t reach all time high today…warrants yes but that’s funding sorted until 2025…
Expecting to see the £s over the next few weeks IMO
Did the US not turn up today?? Seems they aint happy for it on their OTC share
I guess £4mill warrants put FUM in a good position financially with instant cash injection, & should mean they get a good US deal hopefully. Would like some more details regarding time to US market now it’s been approved suspect this will be talked about in the investor seminar being held, let’s hope a deal has been done by then with US!
That 2nd rns with 10.9m shares to be admitted on 16th June halted the sp in its tracks... badly timed ffs
Like many others here, I thought this stock would take off with FDA approval, so really disappointed with today’s close. We need a trading update from FUM to reassure us that this is worth sticking with.
FDA approval
New broker target
Talks for US distribution
More working capital with LO conversion
All looks good and coming in right time now!!
SP will be slowly but surely will start moving upwards from here.
And it will move with lower volume, as it is the new trend by MMs, shaking most jolders out and then suddenly take the SP higher!!
Jeeez... this isn't even close to 121 never mind 142.
SP is a JOKE!!!
I've been in this share for almost years and not once have liberum been close to the price they set.
Would love it to be 142....but I won't be holidng my breath....although very happy to be proved wrong
Liberum has updated its target price for Futura Medical PLC (AIM:FUM, OTC:FAMDF) shares from 121p to 142p after the latter's announcement of US Food & Drug Administration approval for MED3000, a treatment for erectile dysfunction (ED), according to the corporate broker's research note.
This development marks a significant milestone for Futura, further strengthening the investment case in the Liberum's view.
The groundbreaking approval places MED3000 as the first over-the-counter (OTC) ED treatment to be approved in the US.
Compared with existing prescription-based treatments such as Viagra and Cialis, MED3000 offers easier accessibility and faster onset of effect.
Consequently, this could help Futura carve out a substantial market share in the US, the world's largest market for ED treatments, Liberum noted.
The next significant step for Futura, according to the broker, is to secure a US marketing partner, ideally before the end of fiscal year 2023.
This move is anticipated to leverage the partner's experience in building an OTC brand and make a significant impact in the market.
Futura is set to hold a capital markets day (CMD) on June 22, where further details about the launch and the progress of Eroxon (Futura's consumer brand for MED3000) in European markets are expected.
Liberum's financial forecasts do not yet include revenue from the company's launched markets, as it awaits more clarity on the timing and quantum of stocking orders.
Despite ending 2022 with £4m cash and expecting a £1m tax credit refund in mid-2023, Liberum does not view Futura's cash outflow as a significant concern. It believes that Futura is well-funded and does not foresee the need for equity raises in the near future.
LO earlier holding was 25.99%
Todays 10mil will bring them close to 28-29%!!
If they are not selling and holding even today’s shares then it will be really good for another great run from here to mich higher grounds!!
Good luck all and waiting for TR1 from LO.
This will be low 40’s by the end of the week.It will be as if Boots and FDA approval never happened. I was recommended this share by “someone in the know “ I wish that I had never heard of this share.The company has never been able to sustain a share price rise over all the 15 years that I have been invested.All those who are going to buy on the latesed news will have done so today:and like so many times have got there fingers burnt.It will be steady sells until the investor presentation next week I hope I’m wrong but I have seen it too many times!
Long-time FUM holder, first time post…
Has anyone heard from Li@rBooth? Hope he’s OK with today being the day he was convinced would never come.